BAR GRAPH OF DEMOGRAPHIC DATA FOR CANADA, THE U

question 65

Short Answer

BAR GRAPH OF DEMOGRAPHIC DATA FOR CANADA, THE U.S., AND MEXICO

-According to the graph,how much higher is the total fertility rate in Mexico than in Canada?

Explain the role of expectations in influencing the economy's adjustment process.

Understand the factors that shift the aggregate supply curves in the short run and long run.

Describe the impact of resource price flexibility on economic equilibrium.

Assess the implications of actual output deviating from potential output.

---

Definitions:

Optimal Labor Employment

The level at which the addition of one more employee maximizes the organization's net productivity and profit.

Marginal Expenditure

The incremental cost associated with the purchase of an additional unit of a good or service.

Marginal Product

The increase in output that arises from an additional unit of input.

Marginal Revenue

The additional income generated from the sale of one more unit of a product or service.